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A mortgage company asks a state compliance officer to validate a Wisconsin company policy update involving licensing and NMLS authority. Which statement is reliable?

Correct Answer

C) Wisconsin DFI says mortgage banking uses NMLS, a state-regulator licensing system, for all mortgage licensing.

Wisconsin DFI says mortgage banking uses NMLS, a state-regulator licensing system, for all mortgage licensing.

Answer Options
A
Let production staff decide whether licensing and NMLS authority matters for the file.
B
Skip documentation because the supervisory file review appears routine.
C
Wisconsin DFI says mortgage banking uses NMLS, a state-regulator licensing system, for all mortgage licensing.
D
Rely on prior mortgage experience instead of the stated licensing or compliance requirement.

Why This Is the Correct Answer

Wisconsin DFI says mortgage banking uses NMLS, a state-regulator licensing system, for all mortgage licensing.

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